Crane (CR) To Go Ex-Dividend on August 30th

Crane (NYSE:CR) declared a quarterly dividend on Monday, July 22nd, Zacks reports. Shareholders of record on Friday, August 30th will be paid a dividend of 0.205 per share by the conglomerate on Wednesday, September 11th. This represents a $0.82 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Friday, August 30th.

Crane has a payout ratio of 14.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Crane to earn $8.57 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 9.6%.

Crane Stock Performance

Shares of CR opened at $153.38 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The stock has a market cap of $8.77 billion, a P/E ratio of 41.12, a PEG ratio of 1.93 and a beta of 0.78. The company has a 50-day moving average of $148.56 and a two-hundred day moving average of $140.52. Crane has a 12-month low of $82.57 and a 12-month high of $162.34.

Crane (NYSE:CR) last issued its quarterly earnings results on Monday, July 29th. The conglomerate reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.06. The business had revenue of $581.00 million during the quarter, compared to the consensus estimate of $568.33 million. Crane had a net margin of 13.10% and a return on equity of 24.45%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 earnings per share. As a group, research analysts predict that Crane will post 7.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on CR. UBS Group lifted their price target on shares of Crane from $120.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Crane from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Bank of America boosted their target price on shares of Crane from $140.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Finally, Stifel Nicolaus boosted their target price on shares of Crane from $157.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $155.00.

About Crane

Crane Company, together with its subsidiaries, manufactures and sells engineered industrial products in the United States, Canada, the United Kingdom, Continental Europe, and internationally. The company operates in three segments: Aerospace & Electronics, Process Flow Technologies, and Engineered Materials.